by Kendal SteeleDesignating a Property as a Principal Residence – T2091
The Principal Residence Exemption may allow for the profit from the sale of your home to be received tax-free. For many Canadian households, a vast am...
by Kendal SteeleCan You Claim Land Transfer Tax in Ontario
Land transfer taxes are one of many fees associated with buying real estate in Ontario. Upon the purchase of land or an interest in land in Ontario, t...
by Kendal SteeleWhat is Capital Gains Tax?
What is Capital Gains Tax? Capital Gains tax is a tax rate that is applied to income earned from the sale of capital property. This differs from the t...
by Kendal SteeleHow Much is Income Tax in Canada in 2018?
Canadian income tax rates vary according to the amount of income a taxpayer earns. In addition, taxpayers pay different rates on different portions of...
by Kendal SteeleCryptocurrency Audits and the CRA
Recently, the Canada Revenue Agency has sent out a 13 page questionnaire to those it suspects of owning cryptocurrencies or digital currencies. These ...
by Kendal SteeleIs Tax Deducted from CPP Payments?
The Canada Pension Plan (CPP) operates throughout Canada, except in Quebec, where the Quebec Pension Plan (QPP) exists, aiming to provide contributors...
by Kendal SteeleWhat is the Working Income Tax Benefit?
The Working Income Tax Benefit (“WITB”) is a refundable tax credit intended to provide tax relief for eligible working low-income individu...
by Kendal SteeleWhat is a Schedule 1 Federal Tax Form?
CRA Schedule 1 A Schedule 1 Federal Tax Form, or a CRA Schedule 1 as some people call it, is used to calculate the percentage of your income you are g...
by Kendal SteeleWhat is Wage Garnishment?
A wage garnishment is when a creditor seizes some, or all of your earnings to pay off your amount owing. It is often used by the Canada Revenue Agency...
by Kendal Steele